The Estee Lauder Companies Inc. $EL Position Decreased by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its holdings in The Estee Lauder Companies Inc. (NYSE:EL) by 4.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,500 shares of the company’s stock after selling 6,200 shares during the quarter. New York State Common Retirement Fund’s holdings in Estee Lauder Companies were worth $12,116,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Asset Dedication LLC grew its holdings in shares of Estee Lauder Companies by 258.7% in the 2nd quarter. Asset Dedication LLC now owns 391 shares of the company’s stock worth $32,000 after acquiring an additional 282 shares during the last quarter. Quent Capital LLC acquired a new stake in Estee Lauder Companies during the 3rd quarter worth about $33,000. Golden State Wealth Management LLC lifted its stake in Estee Lauder Companies by 69.5% during the second quarter. Golden State Wealth Management LLC now owns 512 shares of the company’s stock valued at $41,000 after buying an additional 210 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in Estee Lauder Companies during the second quarter valued at about $42,000. Finally, Ameritas Advisory Services LLC acquired a new position in shares of Estee Lauder Companies in the second quarter worth about $44,000. 55.15% of the stock is currently owned by institutional investors.

Insider Activity at Estee Lauder Companies

In other news, Director Barry S. Sternlicht sold 3,972 shares of the stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $91.83, for a total transaction of $364,748.76. Following the transaction, the director owned 34,812 shares in the company, valued at $3,196,785.96. This represents a 10.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Meridith Webster sold 5,430 shares of the firm’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $87.84, for a total transaction of $476,971.20. The disclosure for this sale is available in the SEC filing. Insiders own 13.05% of the company’s stock.

Estee Lauder Companies Price Performance

EL opened at $118.75 on Tuesday. The stock has a fifty day moving average price of $107.99 and a 200 day moving average price of $96.95. The company has a current ratio of 1.32, a quick ratio of 0.92 and a debt-to-equity ratio of 1.88. The Estee Lauder Companies Inc. has a 1 year low of $48.37 and a 1 year high of $120.27. The stock has a market cap of $42.79 billion, a price-to-earnings ratio of -46.03, a PEG ratio of 1.35 and a beta of 1.14.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on EL shares. JPMorgan Chase & Co. boosted their price target on shares of Estee Lauder Companies from $116.00 to $131.00 and gave the company an “overweight” rating in a report on Friday, January 16th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Estee Lauder Companies from $124.00 to $128.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Canaccord Genuity Group increased their target price on Estee Lauder Companies from $85.00 to $100.00 and gave the company a “hold” rating in a report on Monday, October 27th. Rothschild & Co Redburn downgraded Estee Lauder Companies from a “neutral” rating to a “sell” rating and lowered their price target for the company from $83.00 to $70.00 in a report on Tuesday, November 25th. Finally, Zacks Research raised Estee Lauder Companies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 16th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $103.00.

About Estee Lauder Companies

Estée Lauder Companies Inc (NYSE: EL) is a global leader in prestige beauty that develops, manufactures and markets a broad portfolio of skincare, makeup, fragrance and hair care products. Founded in 1946 by Estée Lauder, the company has grown from a small family business into a multinational consumer-products enterprise headquartered in New York City. Its activities span product research and development, brand and product marketing, manufacturing and global distribution across multiple retail channels.

The company’s portfolio includes a mix of legacy and prestige brands that target different consumer segments and price points, with well-known names such as Estée Lauder, Clinique, MAC, La Mer and Jo Malone among others.